Infosys (NSE, BSE: INFY) Announces Results for the Quarter and Year ended March 31, 2017

Bangalore, April 13, 2017:
1. Highlights
FY 17 revenues crossed $10 billion, at $10,208 million
FY 17 revenues grew 9.7% to `68,484 crore in INR terms; 8.3% in constant currency terms
FY 17 operating margin at 24.7% as compared to 25.0% in FY 16
FY 17 Basic EPS at `62.80, a growth of 6.4% YoY
Q4 revenues declined by 0.9% QoQ in INR terms; flat in constant currency terms
Q4 operating margin at 24.6% and Basic EPS at `15.77
Liquid assets including cash & cash equivalents and investments at `38,773 crore as on March 31, 2017
FY 18 revenue guidance at 6.5%-8.5% in constant currency. FY 18 operating margin guidance at 23%-25%
2. Dividend for Financial Year 2017
For Financial Year 2017, the Board announced a final dividend of `14.75 per share amounting to `4,078 crore.
After including the interim dividend of `11 per share, the aggregate dividend for Financial Year 2017 amounts
to `25.75 per share resulting in total payout of `7,119 crore. The total payout amounts to 49.6% of post-tax
profits and 63.0% of free cash flow* for Financial Year 2017.
3. Capital Allocation Policy
The Board reviewed and approved a revised Capital Allocation Policy of the Company after taking into
consideration the strategic and operational cash requirements of the Company in the medium term.
The key aspects of the Capital Allocation Policy are:
1. The Company’s current policy is to pay dividends of up to 50% of post-tax profits of the Financial Year.
Effective from Financial Year 2018, the Company expects to payout up to 70% of the free cash flow* of the
corresponding Financial Year in such manner (including by way of dividend and/or share buyback) as may be
decided by the Board from time to time, subject to applicable laws and requisite approvals, if any.
2. In addition to the above, the Board has identified an amount of upto `13,000 crore ($2 billion)** to be paid
out to shareholders during Financial Year 2018, in such manner (including by way of dividend and/or share
buyback), to be decided by the Board, subject to applicable laws and requisite approvals, if any.
Further announcements in this regard will be made, as appropriate, in due course.
* Free cash flow is defined as net cash provided by operating activities less capital expenditure as per the consolidated statement of cash flows prepared under IFRS
**USD/INR exchange rate as on March 31, 2017
Dividend payout includes Dividend Distribution Tax